March 2018

WELCOMEThis year Seattle City Council will consider whether to form a Local Improvement District (LID) for Waterfront Seattle

AT THIS MEETING, YOU CAN: Learn more about Waterfront Seattle

Understand the LID formation process and how you can be involved

Speak directly with City staff

Share your comments and questions

NEXT STEPS: Special benefit and estimated preliminary

assessments for each property available in April

Public hearings this summer on whether to form an LID

March 2018

WATERFRONT SEATTLE OVERVIEW

2017

2017

EARLY WORKSUtilities ahead of Alaskan Way Viaduct demolition

ALASKAN WAY VIADUCT DEMOLITION

PIER 62/63 REBUILD & HABITAT IMPROVEMENTS

2018

2018

2019

2019

2021

2021

2020

2020

2022

2022

2024

2024

2023

2023

CONSTRUCTION SCHEDULE

PIKE PLACE MARKETFRONT

Related projects

Waterfront Seattle

SEAWALL REBUILD

MAIN CORRIDORAlaskan Way, Elliott Way, Columbia St, Seneca St, Lenora St and Promenade

MARION STREET BRIDGEConstruction schedule is approximate

EAST/WEST CONNECTIONSBell St, Union St, Pioneer Square Street Improvements and Pike Pine Renaissance: Act One

OVERLOOK WALK

WATERFRONT PARK

NOTE: Construction dates subject to change pending: A. completion dates of new SR-99 tunnel and demolition of the Alaskan Way Viaduct; B. ongoing construction sequencing evaluation and assumptions for all projects

COLMAN DOCK REBUILD

New Alaskan Way open

AQUARIUM OCEAN PAVILION

Potential early work Potential completion

2017

2017

EARLY WORKSUtilities ahead of Alaskan Way Viaduct demolition

ALASKAN WAY VIADUCT DEMOLITION

PIER 62/63 REBUILD & HABITAT IMPROVEMENTS

2018

2018

2019

2019

2021

2021

2020

2020

2022

2022

2024

2024

2023

2023

CONSTRUCTION SCHEDULE

PIKE PLACE MARKETFRONT

Related projects

Waterfront Seattle

SEAWALL REBUILD

MAIN CORRIDORAlaskan Way, Elliott Way, Columbia St, Seneca St, Lenora St and Promenade

MARION STREET BRIDGEConstruction schedule is approximate

EAST/WEST CONNECTIONSBell St, Union St, Pioneer Square Street Improvements and Pike Pine Renaissance: Act One

OVERLOOK WALK

WATERFRONT PARK

NOTE: Construction dates subject to change pending: A. completion dates of new SR-99 tunnel and demolition of the Alaskan Way Viaduct; B. ongoing construction sequencing evaluation and assumptions for all projects

COLMAN DOCK REBUILD

New Alaskan Way open

AQUARIUM OCEAN PAVILION

Potential early work Potential completion

We are creating a Waterfront for All:

The vision for the Waterfront Seattle Program began in 2010 with a broad public engagement process

This community input led to the Concept Design and Strategic Plan, endorsed by the Mayor and City Council in 2012

The City of Seattle’s Office of the Waterfront leads design and engineering for the Program and construction began last year

Waterfront Seattle will provide 20 acres of new and improved parks and public spaces, including:

Overlook Walk, an elevated pathway connecting Pike Place Market to the waterfront

Pedestrian promenade from Pioneer Square to the Aquarium

New elevator and stairs at Union Street

Pedestrian improvements on Pike and Pine streets from First Ave to Capitol Hill

Improved sidewalks and public space in Pioneer Square

CONSTRUCTION SCHEDULE

WATERFRONT SEATTLE OVERVIEW

11 P

ROTECTED BIKE LANE E Thomas St

N

Alaskan Way S

1st A

ve S

Colo

rado

Ave

S

Utah

Ave

S

Occi

dent

al A

ve S

3rd

Ave

S

4th Ave S

5th

Ave

6th

Ave

8th

Ave

Airp

ort W

ay S

7th

Ave

S

S Holgate St

Edgar Martinez Dr S

S Royal Brougham Way

Walker St S

S Dearborn St

S Jackson St

S Yesler Way

S Lane St

S Weller St

S King St

S Main St

2nd

Ave

Ext S

S Washington St

4th Ave

3rd Ave

2nd Ave

1st Ave

5th Ave

7th Ave

9th Ave

6th

Ave

James St

Cherry St

Marion St

Madison St

Spring St

Seneca St

Broadway

Terry Ave

Boren A

ve

Minor A

ve

University St

Union St

Pike St

Pine St

Olive Way

Howell St

Stewart St

Virginia St

Lenora St

Blanchard St

Bell St

Battery St

Wall St

Vine St

Cedar St

Clay St

Broad St

Western A

ve

Alaskan Way

Elliott Ave

5th

Ave

N

2nd

Ave

N

John St

Thomas St

Boylston Ave

Mel

rose

Ave

Harvard Ave

Columbia St

Denny Way

5

5

Western Ave

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Century Link Field

Pier 55

Pier 54

Pier 56

Pier 57

SeattleGreat Wheel

Seattle Aquarium

Pike Place Market

Bell Harbor Marina

Colman Dock

14

15

13

16

32

1

5

N

8

12

6

11

10

4

7

9

17

15 PIER 62 REBUILD

2 A

LASKAN WAY

CONNECT

EXPLORE

13 OVERLOOK WALK

VIEW

8 PROMENADE

PLAY

6 SEAWALL

N

16 MARKETFRONT

E Thomas St

N

Alaska

n Way

S

1st Ave S

Colorado Ave S

Utah Ave S

Occidental Ave S

3rd Ave S

4th Ave S

5th Ave 6th Ave

8th Ave Airport Way S

7th Ave S

S Holgate St

Edgar Martinez Dr S

S Royal Brougham W

ay

Walker St S

S Dearborn St

S Jackson St

S Yesler Way

S Lane St

S Weller St

S King St

S Main St

2nd Ave Ext SS W

ashington St

4th Ave

3rd Ave

2nd Ave

1st Ave

5th Ave

7th Ave

9th Ave

6th Ave

James St

Cherry St

Marion St

Madison St

Spring St

Seneca St

Broadway

Terry Ave

Boren Ave

Minor Ave

University St

Union St

Pike St

Pine St

Olive W

ay

How

ell St

Stewart St

Virginia St

Lenora St

Blanchard St

Bell St

Battery St

Wall St

Vine St

Cedar St

Clay St

Broad St

Western Ave

Alaskan Way

Elliott Ave

5th Ave N

2nd Ave N

John St

Thomas St

Boylston Ave

Melrose Ave

Harvard Ave

Colum

bia St

Denny Way

5

5

Western Ave

WATERFRONT SEATTLE PROGRAMDecember 2017N

1” = 50’

50’50’ 25’ 0’

Pier 48

Occidental Park

Port of Seattle

South Tunnel Portal Operations Building

South Tunnel Portal

Century Link Field

North LotDevelopment

Metro Transit Stop

Terminal Building(Planned Project)

Colman Dock

Entry Building

Passenger Only Ferry Terminal(Planned Project)

SeattleGreat Wheel

Pike St. Improvements Pine St.

Improvements

Seattle Aquarium

Pike St. Hill Climb

Pike Place Market

Victor Steinbrueck Park

Battery StreetTunnel Portal-Future Park Site

Bell St. ParkExtension

Blanchard OpportunitySite

Bell St. BridgeBell Harbor Marina

Bell Harbor Conference Center

< PORT SIDE TRAIL >

ALASKAN WAY

WESTERN AVE.WESTERN AVE.

POST ALLEY

FIRST AVE.FIRST AVE.

2ND AVE. S

FIRST AVE.

POST AVE.

MA

RIO

N S

T.

MA

DIS

ON

ST.

SPR

ING

ST.

SEN

EC

A S

T.

UN

IVE

RSI

TY S

T.

PIN

E ST

.

PIK

E ST

.

VIRG

INIA ST.

STEWAR

T ST.

LENO

RA ST.

BLAN

CH

ARD

ST.

BATTER

Y ST.

WESTERN AVE.

ELLIOTT AVE

ALASKAN WAY

< ELLIOTT BAY TRAIL>

BNSF RAILROAD

WESTERN AVE.

FIRST AVE.

SECOND AVE.

PIKE PLACE

S. D

EARB

ORN

ST.

S. J

ACKS

ON S

T.

FIRST AVE. S.

OCCIDENTAL AVE. S.

LEGEND

WATERFRONT SEATTLE PROGRAM

PARTNER PROJECTS

ART WORK

Seawall Face ArtLaura Haddad

WATERFRONT SEATTLE PROGRAMDecember 2017N

1” = 50’

50’50’ 25’ 0’

Pier 48

Occidental Park

Port of Seattle

South Tunnel Portal Operations Building

South Tunnel Portal

Century Link Field

North LotDevelopment

Metro Transit Stop

Terminal Building(Planned Project)

Colman Dock

Entry Building

Passenger Only Ferry Terminal(Planned Project)

SeattleGreat Wheel

Pike St. Improvements Pine St.

Improvements

Seattle Aquarium

Pike St. Hill Climb

Pike Place Market

Victor Steinbrueck Park

Battery StreetTunnel Portal-Future Park Site

Bell St. ParkExtension

Blanchard OpportunitySite

Bell St. BridgeBell Harbor Marina

Bell Harbor Conference Center

< PORT SIDE TRAIL >

ALASKAN WAY

WESTERN AVE.WESTERN AVE.

POST ALLEY

FIRST AVE.FIRST AVE.

2ND AVE. S

FIRST AVE.

POST AVE.

MA

RIO

N S

T.

MA

DIS

ON

ST.

SPR

ING

ST.

SEN

EC

A S

T.

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IVE

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TY S

T.

PIN

E ST

.

PIK

E ST

.

VIRG

INIA ST.

STEWAR

T ST.

LENO

RA ST.

BLAN

CH

ARD

ST.

BATTER

Y ST.

WESTERN AVE.

ELLIOTT AVE

ALASKAN WAY

< ELLIOTT BAY TRAIL>

BNSF RAILROAD

WESTERN AVE.

FIRST AVE.

SECOND AVE.

PIKE PLACE

S. D

EARB

ORN

ST.

S. J

ACKS

ON S

T.

FIRST AVE. S.

OCCIDENTAL AVE. S.

LEGEND

WATERFRONT SEATTLE PROGRAM

PARTNER PROJECTS

ART WORK

Seawall Face ArtLaura Haddad

Pine St

Pike St

Pier 48

Occidental Park

Port of Seattle

South Tunnel

Portal

Century Link Field

Pier 55

Pier 54

Pier 56

Pier 57

SeattleGreat

Wheel

Seattle Aquarium

Pike Place M

arket

Bell Harbor M

arina

Colman

Dock

14

15

13163

2

1

5N 8126

N

Waterfront Seattle Program Area Related Projects

1 Railroad Way 2 Alaskan Way + Elliott Way

3 Pioneer Square Streets

4 Columbia Street

5 Marion Street Pedestrian Bridge

6 Seawall

7 Seneca Street

8 Promenade

9 Union Street Elevator and Stairs

10 Waterfront Park

11 Protected Bike Lane

12 Seattle Aquarium expansion

13 Overlook Walk

14 Pike Pine Renaissance: Act One

15 Pier 62 Rebuild

16 Pike Place Market’s MarketFront

17 Bell Street Park Extension

March 2018

March 2018

FUNDING PLANSEATTLE’S WATERFRONT IS A MAJOR PUBLIC INVESTMENT, INCLUDING: State of Washington’s Alaskan Way Viaduct

Replacement Program: $3.2 billion

Elliott Bay Seawall Project: $400 million

Public utilities infrastructure: $202 million

Waterfront Seattle: $688 million, including proposed LID

WATERFRONT SEATTLE FUNDING

TOTAL = $688M

ESTIMATED PROJECT COST AND LID FUNDING SHAREPROGRAM ELEMENT TOTAL COST LID SHARE

Overlook Walk $100.15 M

60.48

Promenade $62.07 M

36.48

Waterfront Park $65.31 M

35.90

Pike/Pine $20.00 M

18.82

Pioneer Square $20.00 M

14.77

Union Street $13.14 M

8.71

Subtotal $280.67 M

175.15

Administration $8.27 M

8.27

Construction Contingency $30.71 M

13.65

1% for Art $4.91 M

1.92

Environmental Review and Permitting $3.75 M

1.00

Total $328.31 M

200.00

Total Waterfront Program Cost $688 M

Note: Total cost and individual project funding allocations based on current budget plan. May change due to budget and LID formation decisions as well as funding adjustments during construction.

March 2018

LID PROCESSThe Seattle City Council will consider whether to form this LID over the course of 2018, beginning later this spring. This process will include a series of steps, each with opportunities for property owners to give direct input on the proposed LID.

• Q4/Q1 Independent appraiser conducts parcel-by-parcel analysis

• Q4/Q1 City staff provide briefings and information sessions

• Q1 City staff continue outreach focused on project scope, cost and design updates

• Q1 Special benefit study complete

• April City shares special benefit and estimated preliminary assessments via LID website

• Q2 Council considers resolution of intent to form an LID

• Q3 Public invited to hearings on whether LID should be formed

• Q3 Property owners may submit written protests regarding the LID formation

• Q1 Council considers resolution beginning assessment roll process

• Q1/Q2 Property owners invited to hearings to contest individual assessment amounts if needed

• Property owners may elect to prepay assessment or finance over 20 years

• Q4 Council considers ordinance to form LID

• Q4 City considers written protests regarding the LID formation and property owners may file legal appeals

• Q2 Council considers ordinance confirming final assessment roll

• Q2 Property owners can appeal individual assessments

SPECIAL BENEFIT STUDY

LID FEASIBILITY STUDY

ASSESSMENT ROLLCOLLECTIONS BEGIN(timing TBD)

LID FORMATION

2018Q4 Q2 Q2Q3 Q3Q4 Q4MID-2017 2019 2020

1

2

43

HOW TO BE INVOLVED April 2018 - View your property’s special benefit and estimated

preliminary assessment at waterfrontseattle.org/LID

Summer 2018 - Comment at public hearings on whether the LID should be formed

• All property owners will receive a letter at least 15 days before the first hearing date

• Letters will include the property’s special benefit and preliminary assessment

• Property owners may submit written protests both during public hearings and via letter directly to the City

Fall 2018 - Council meetings where LID formation will be discussed

• If Council forms the LID, City considers written protests• If Council forms the LID and protest threshold is not met,

property owners may file a legal appeal with King County Superior Court

2019 - Public hearings where property owners may

contest individual assessments

Learn more, ask questions or comment anytime at waterfrontseattle.org/LID

March 2018

SPECIAL BENEFIT STUDY AREA

Alaskan W

ay S

1st Ave S

Colorado Ave S

Utah Ave S

3rd Ave S4th Ave S

5th Ave

6th Ave

8th Ave

Airport W

ay S

7th Ave S

S Holgate St

Edgar Martinez Dr S

S Massachusetts St

S Royal Brougham Way

S Dearborn St

S Jackson St

S Yesler Way

S Lane St

S King St

S Main St

S Washington St

4th Ave

3rd Ave

2nd Ave

1st Ave

5th Ave 7th Ave

9th Ave

6th Ave

James StCherry St

Marion StMadison St

Spring St

Seneca St

Broadw

ay

Terry Ave

9th Ave 8th Ave 7th Ave

Boren Ave M

inor Ave

University StUnion St

Pike StWashington

State Convention

Center

Pine St

Olive Way

Howel

l St

Stewar

t St

Virgin

ia St

Lenor

a St

Blanc

hard

St

Bell S

tBatte

ry S

t

Wal

l St

Vine S

t

Cedar

St

Clay S

t

Broad

St

Western Ave

Alaskan Way

Elliott Ave

5th Ave N

2nd Ave N

John St

Thomas StB

oylston Ave

Harvard Ave

Columbia St

Denny Way

5

Melrose A

ve

Occidental Ave S

Pike Place

Market

MarketFront

Waterfront Seattle Program

Special benefit study area boundary (fall 2017)

Funded by Washington State Convention Center public benefit

N

BELLTOWN

RETAIL CORE

WEST EDGE

PIONEER SQUARE

STADIUMS

March 2018

March 2018

WHAT IS SPECIAL BENEFIT?Special benefit = increase in a property’s fair market value resulting from a set of public improvements (in this case Waterfront Seattle)

SPECIAL BENEFIT STUDY Parcel-by-parcel analysis of special benefit

Only considers benefits directly attributable to Waterfront Seattle

Independent appraiser results will be available in April

Considers benefits from park improvements, not basic roads/infrastructure

Does not consider property value increases caused by general Seattle real estate market

Does not consider real estate value of Alaskan Way Viaduct demolition, Seawall Project, etc.

EXISTINGPROPERTYVALUE

APPRECIATION

WAT E R F R O N T I M P R O V E M E N T

OTHER IMPROVEMENTSVIADUCT REMOVAL, ALASKAN WAYREPLACEMENT, SEAWALL

WATERFRONT FUNDING

LID A

SS

ESS

MEN

T

SPECIAL BENEFITFROM WATERFRONT IMPROVEMENTSPUBLIC OPEN SPACE & AMENITIES,IMPROVED STREETS, SUPPORTED LOCAL RETAIL

LID ASSESSMENT

OTHER FUNDING

March 2018

HOW ARE LID ASSESSMENTS CALCULATED?

SAMPLE CALCULATIONThe example below illustrates how a preliminary LID assessment would be calculated for a condominium with the approximate average current Seattle home price of $720,000.

An LID assessment is the portion of each property’s special benefit that the City collects to pay for the improvements. City will recommend an initial

assessment ratio for discussion

Assessment ratio must be uniform across all property types and uses

LID assessment for an individual property cannot exceed that property’s total special benefit

Historically, LID assessments for other projects have been 50-70% of the property’s special benefit

Seattle City Council would confirm the final assessment percentage in fall 2018

• This example assumes special benefit of 5% of the property’s fair market value

• Feasibility study suggested average special benefit of 2-5% of current value, with some exceptions that may be higher

• This is only an example

Parcel ID

Fair market value

before

Special benefit amount

Assessment percentage

Preliminary LID

assessment amount

Estimated annual payment (over 20 years,

includes interest)

ABC-DEF-123546 $720,000 $36,000 50% $36,000 x 50%

= $18,000 $1,375

March 2018

SAFE AND ACTIVE PUBLIC SPACES

Partnership between City and Friends of Waterfront Seattle to deliver a package of enhanced operations and maintenance:

• Activities and events year round

• Dedicated and specialized maintenance team

• Managed spaces with full time concierge staff and private security

• Additional concession and retail offerings

Dedicated annual City budget of $3.5 million, private fundraising $1-$2 million

Transparency and accountability to ensure the waterfront is a democratic and inclusive space Photo: Trevor Dykstra